On Legal Responsibility Of The Independent Audit Of CPA

Certified Public Accountant(CPA)plays an unique role in the development of modern economy. But if for the reason of CPA's fault,the auditing report is not actual, which misguides investors to do a false decision and lead to money loss, what kind of legal liabilities will a CPA take? Up to now, there are 3 main standpoints: contract liabilities, torts liabilities and economic law liabilities. I think that the two formers are illogical and unpractical, if we determine the nature of CPA's legal responsibilities in that way, it will go against the development of social economy. On the basis of features of CPA's law responsibilities, I think the nature of it belongs to economic law liabilities. The author has analyzed the characteristics, structures and the forms of the economic law responsibilities in detail. Meantime, because of the little scale in economy of CPA offices, they cannot cope with the venture of economic amends from investors. So the author suggests that we should develop the liability insurance of CPA, and also points the main matters in our insurance market of China, and gives solutions to the problems.